National Mutual (to be rechristened AXA on August 8) is under-going a major product revamp. For full details of the revamp and why it is happening read Wielding the Axe in the features section.
For every two or three funds which disappear from the market it seems several others crop up. While a number of fund managers, notably National Mutual, Colonial and Royal & SunAlliance, are undergoing major rationalisation of their product ranges several are adding funds.
ANZ Funds Management launched a cash management trust called Flexi-Cash last Friday. This is a group investment fund aimed at rounding out the group's suite of funds. Likewise, Armstrong Jones plans to soon launch a cash management trust and a capital guaranteed income fund.
On the other side of the ledger WestpacTrust has decided to wind up two single sector unit trusts. The trusts being wound up are the Selected Australian Shares and the Government Securities trusts.
Of bugs and birds
First it was Ken the cockroach trying to get your attention, now it's Sally Ann the Kea. The Y2K Readiness Commission launched, last week, a public information campaign to raise the awareness of the Y2K problem using a cockroach as a symbol. Later in the week the Super 2000 Taskforce launched its public awareness campaign and its Kea, Super Ann.
Taskforce chair Angela Foulkes describes superannuation as one of the most daunting challenges New Zealand faces. The taskforce aims to discuss the issue with New Zealanders then deliver a proposal to government.
The taskforce has released a booklet Can New Zealand Afford to Retire (order your free copy here) which provides details of the country's changing population and attitudes to retirement issues.
Further details of the taskforce's findings will be available on Good Returns later in the week. Also Good Returns is planning to run extensive coverage of the superannuation debate in the lead up to this year's general election. Watch out more details of our coverage, and think about the issue. We will be seeking your input!
Fund Manager of the Year Awards
Have you checked out full details of the IPAC Fund Manager of the Year Awards yet? For a full list of winners, plus details of why they won click here.
Coverage of these awards is brought to you by Deloitte and IPAC.
Are banks really bastards?
The latest book out from top-selling author Martin Hawes is 5 Ways to Save More Money on Your Mortgage. Hawes reckons people are paying far too much for their mortgage. With changes in the mortgage market the lender is now in the driving seat, he says.
The book offers sound financial advice on how to better handle mortgages, and reduce their costs.
"This book is to mortgages what the Edmonds Cookbook is to cooking," mortgage broker Mike Pero says. Order your copy of this book by clicking here.
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